Ferrari California Gt250 on 2040-cars

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Ferrari plans 15 new models, shares name of its SUV

MARANELLO, Italy — Ferrari plans to launch 15 new models, including hybrid cars, a utility vehicle and more special editions as part of its new chief executive's efforts to double core earnings by 2022. The supercar maker shifted to a guidance range for adjusted core earnings of 1.8-2.0 billion euros ($2.1-2.3 billion) by 2022, rather than the 2 billion figure set by late Ferrari boss Sergio Marchionne. But his successor sought to reassure investors that the company can maintain recent strong growth. "This is an ambitious plan, but a doable one based on a concrete, detailed framework," Louis Camilleri said on Tuesday at the company's Maranello headquarters in Italy. Ferrari shares gained 0.6 percent by 1330 GMT, recovering from earlier losses. The stock slid more than 8 percent on Aug. 1 when Camilleri described Marchionne's targets as "aspirational." Marchionne's sudden death in July jolted investors who had expected the auto industry grandee to remain at the wheel until 2021, having more than doubled Ferrari's market value since taking it public in 2015. Camilleri and his team outlined a plan to show how a brand known for its racing pedigree and roaring combustion engines will shift to making a utility vehicle and hybrid cars and boost margins to over 38 percent without sacrificing exclusivity. The company increased its dividend payout ratio and announced a 1.5 billion-euro share buyback plan. Its marketing chief also promised a "significant increase in average retail price." Following Marchionne's roadmap With margins at 30 percent now, strong pricing power and an enviable customer waiting list, Camilleri inherits a business firing on all cylinders and is not expected to stray far from his predecessor's script. Marchionne had orchestrated Ferrari's spinoff from parent Fiat Chrysler, positioned it as a luxury brand rather than a carmaker, and managed to do what few thought possible: sail through a self-imposed production cap of 7,000 cars a year without sacrificing pricing power or its exclusive appeal. Ferrari has clocked up years of record earnings, helped by special editions and a customization program. But it could prove tough to maintain the company's high valuation as emissions rules tighten, capital spending increases and the diverging interests of investors, racing fans, owners and collectors become harder to balance.

It took four minutes to steal Roger Waters' Ferrari

The owner of a 1973 Ferrari 365 Daytona in Australia is singing Wish You Were Here after thieves stole his red Italian coupe, which counts Pink Floyd lyricist Roger Waters as a former owner. The car was at a mechanic in Melbourne when the brazen crooks rammed open the shop's door in the early morning. They needed just four minutes to get away with the Daytona and a 328 GTB, according to The Drive. This Daytona carries an estimated value of 2.5 million Australian dollars ($1.8 million), and it counts a string of celebrity owners, according to The Age. James Hunt allegedly drove it because the coupe once had a connection to the Hesketh Formula One team. Waters used the car to go to Pink Floyd's recording studio, and magnate Mohamed Al Fayed later had the Ferrari also. He gave it to his son Dodi – Princess Diana's boyfriend when she died. The Daytona wasn't just another brick in the wall to the owner, either. "I don't have any other sport cars, that was the one," he said to The Age. The car just completed a restoration three weeks ago, and it was at the mechanic to sort an alternator problem. Police are still searching for the perpetrators. The 328 was reportedly spotted about 4 miles away after the robbery, but the car was gone when the cops went to check.

2017 Ferrari California T Handling Speciale First Drive

There was a time when snow, rain, and even thick traffic were higher up the list of Ferrari's enemies than Porsche. These were mostly weekend cars, but even wet roads would see them snugly tucked up in their heated garages, and not just because to avoid scrubbing muddy shoe prints out of the carpets. Some of them were difficult enough to handle in the dry, and slick pavement sure didn't make them any more tolerant. The hottest modern Ferraris still don't enjoy being stuck in heavy traffic. Not for any mechanical reasons, mind you. They just don't bother hiding their utter disregard for the mundane, or their disregard for a driver forcing them to endure it, because they feel it's beneath them. And it is. That's where the California came in. Launched in 2008, the retractable-hardtop convertible is the most approachable in the company's range. It was aimed at newly moneyed buyers who weren't saturated in supercar folklore and wanted the badge, but not necessarily all of that attitude. Some, but not all. There are those California buyers who want the convenience with a little more attitude and the trademark crankiness. So, as it did with the original California, Ferrari has added a Handling Speciale Package to the new turbocharged California T's repertoire. This $8,120 option turns the least expensive Ferrari into something that's stiffer and faster and more fun, and the trade-off is a slightly firmer ride, all the time. 30 percent of Ferrari buyers would be happier to dump some of the California T's comfy ride in favor of more grip and more crankiness. Ferrari has left the core of the California T's engine untouched, so the 3.9-liter, twin-turbo V8 still has 557 lb-ft of torque from 4,750 rpm and 553 horsepower at 7,500 rpm. Like on every California T, the engine's boost manager only lets you access 442 lb-ft in the first three gears, with each successive gear unlocking a little more torque until you reach seventh, where the maximum is available. This helps make the California T drivable and has the added benefit of flexibility once in the tall top gear. While that is all stock on the California T, the seven-speed dual-clutch Getrag gearbox is the first part of the car to receive the Handling Speciale treatment. Ferrari rewrote its software to make it shift more aggressively both up (30 percent quicker) and down (40 percent quicker), particularly in the car's two sportier driving modes.